CareerBuilder, an organization specializing in revolutionizing the job search process via technology, surveyed over 2,000 Americans in April of 2022 to determine their current satisfaction with their job and other societal impacts that have affected their experience in the workforce. Of the 2,063 adults who were surveyed, 1,061 of them were employed.
We’ve compiled a summarized list of important findings from this report that will certainly be useful to companies, hiring managers, and the staffing and talent acquisition industry.
1. Employees want a work-life balance
Fifty-six percent of respondents said they are most attracted to job postings because of the offered work schedule. COVID-19 proved that companies can operate fully remotely, allowing many to manage their personal life with more freedom and flexibility. When asked what perks were missing from an employee’s current position, 59 percent of respondents answered that is was their schedule, with 30 percent of that statistic wanting a four-day work week and 28 percent wanting their birthday off. Additionally, 34 percent said work from home is their “ideal office,” especially for women and those who are older members of the workforce, such as Gen X or Millennials.
2. Much of the workforce has acquired or is acquiring student loan debt.
Nearly 59 percent of all United States adults have “shouldered” student loan debt at some point in their life. Not shockingly, 27 percent have paid it off. While the student loan debt relief plan will forgive up to $10,000 for loaners under a certain household income, this seems insignificant when 38 percent of adults owe $40,000 or more in loans. To make matters worse, the threat of an inflation period, much like the one we are currently experiencing, will raise the interest rates on these loans, and they will only become harder to pay off. But what is the alternative when most salaried or even entry-level jobs require a minimum of a bachelor’s degree to even be considered for the position?
3. A company’s commitment to DEI initiatives is hugely important to employees.
CareerBuilder asked what kind of initiatives make Americans feel like their company is trying to be more diverse. The top three answers were hiring more diverse employees (39 percent), hiring more diverse leadership (33 percent), and promoting the diversity of its employees (32 percent). While 65 percent of respondents felt satisfied with their company’s DEI (diversity, equity, and inclusion) efforts, 35 percent still felt that their company could be doing more to promote diversity and inclusion. Some actions that can be implemented include diversity training for recruiters and leadership positions, offering holidays for those of practicing cultures or religions, and highlighting diversity in both marketing materials and the organization’s intranet materials. Additionally, 72 percent of U.S. adults think ERGs (employee resource groups) would be helpful to advance DEI initiatives and promote meaningful communication with “underrepresented” groups. The survey asked respondents who have had experience with ERG what they felt the most meaningful benefits of these organizations were. Thirty-three percent of respondents said it made them feel heard and valued, 32 percent said they felt that ERGs help promote cultural awareness and 30 percent said they felt that ERGs help to foster an inclusive workplace culture.
Read the full report here for more information about CareerBuilder’s state of work.
This blog was written by Acara Recruitment Specialist Lanee Davis.